Frequently Asked Questions (FAQ)

What is the Nance County Foundation, Inc.?

The Nance County Foundation, Inc. is a Nebraska non-profit corporation which has been established (1992) to accept gifts and contributions of any size for the benefit of Nance County and its communities. Foundation assets are invested and the principal and/or income used for grants to organizations as designated by donor, or if there is no designation, to qualified organizations in the Nance County area which meet the needs of the county.

How does the Foundation use its assets for the betterment of the county?

The Foundation will always follow the instructions of a donor who names a beneficiary. When beneficiaries are not named, grant applications are solicited from throughout the county. Those applications are evaluated by the Foundation’s Board of Directors, who select to fund those projects which best meet the County’s civic, cultural, education, health or welfare needs.

Who manages the funds?

The Funds will be managed by a committee made up of members of the Board of Directors of the Nance County Foundation, Inc. Their efforts will meet the needs of the Foundation and the principles set forth by the Articles and Bylaws governing the Foundation.

Can a gift be designated to serve a specific organization or community in Nance County?

Yes, for a gift of $5,000 or more, a donor may designate a favorite charity or several charities or other qualified non-profit organizations in a specific Nance County community to receive the benefit of the donor’s gift, as, and when, the donor may direct, with the approval of the Foundation’s Board of Directors.

Why should a donor give to the Foundation when a gift can be made directly to a charity?

A gift to the Foundation will insure that the gift will be preserved for the future benefit and stability of the organization. The invested gift will benefit the charity in perpetuity.

Can I make a gift of a life insurance policy to the Foundation?

You certainly can. You may be able to deduct all premiums as charitable contributions too! Consult your tax advisor. Life insurance is a very sensible gift because a modest premium during life can provide a substantial amount to the Foundation at death.

Can I include the Foundation in my will?

Yes, your Will can designate the Foundation as beneficiary. The Will can specify a lump sum dollar devise or a percentage of your estate. A devise to the Foundation in your Will would be exempt from Federal and Nebraska Estate and death taxes. You should consult your attorney or tax advisor for specifics on exemptions.

What are the tax advantages of a gift or contribution to the Foundation?

Because the Nance County Foundation, Inc. is recognized as a “public charity”, donors may deduct a substantial portion of their gross income from gifts made in cash and for gifts of of appreciated property. Consulting with your tax advisor or attorney is recommended.

What are the support areas where my donation will be used if I do not specify?

Fire/rescue, school, town, parks/recreation, housing, economic development, youth groups/summer programs, libraries, civic improvement, cemeteries.

How will my gift be recognized?

The Foundation maintains a Book of Memory which memoralizes deceased persons. It is the policy of the Foundation to enter names in the Book of Memory for a minimum gift of $10.00. Levels of giving will be recognized as:

BUILDER — $500.00
FOUNDER — $1,000.00
PROVIDER — $5,000.00
BENEFACTOR — $10,000.00 and above

The name of the donor will be inscribed on a bronze plaque on the Wall of Honor. Contributions can be made by anyone and given as a memorial or as a gift in recognition of an individual, family, business or organization. Successive donor program contributions build for higher levels of recognition.

Why should I make a gift or bequest to the Foundation?

All of us have benefited from the far-sighted generosity of prior generations who had an abiding faith that it was their Christian duty to make life a little better for the generations to follow. Now it is our turn to do the same for generations to come. Making a tax free contribution to the Foundation would be an excellent way to accomplish this.